Global oil traders Vitol [VITOLV.UL] and Trafigura expect a resurgence in coronavirus cases in Europe and the United States to hurt fuel demand although their estimates vary.
SINGAPORE Oil traders are scouting for newly built supertankers to store diesel for the next few months as they brace for lower demand in Europe amid renewed restrictions aimed at battling the COVID-19 pandemic, shipping and trade sources said.
MELBOURNE/SINGAPORE Oil prices fell on Thursday, paring gains from earlier in the session, as a resurgence in COVID-19 infections across the globe underpinned concerns over economic growth and a recovery in fuel demand.
* Asian jet/kerosene demand seen up to 700,000 bpd lower y/y
Colombian oil company Ecopetrol SA aims to drill a total 100 wells by end-2021 in the Permian Basin of West Texas as global oil prices recover, Chief Executive Felipe Bayon said on Monday.
By Stephanie Kelly, Koustav Samanta and Bozorgmehr
India's crude oil imports fell in June to their lowest level since February 2015, while year-on-year refined product exports declined for the first time in almost a year, government data showed on Friday.
SINGAPORE China's gasoline and gasoil exports are set for a strong rebound in July and August, industry sources said, as companies make the most of rising global fuel demand and higher prices to pare back growing fuel inventories.
SINGAPORE, July 28 China's gasoline and gasoil
exports are set for a strong rebound in July and August,
industry sources said, as companies make the most of rising
global fuel demand and higher prices to pare back growing fuel
SINGAPORE Asian refiners' profits from gasoil have more than trebled from a record low seen in early May as demand recovers after sweeping lockdowns imposed to curb the COVID-19 pandemic, although refiners ramping up production after maintenance could cap gains, analysts said.